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Being mortgage brokers puts a virtually limitless number of loan programs at our fingertips and it is our job to narrow down those options to find the products which best meet your short-term needs and your long-term objectives. The programs you are likely to qualify for will depend on your income, employment history, debts, cash reserves, credit scores, and what we call “compensating factors”, among other things. Your loan program will also be determined by the type, size, and market value of the property you wish to purchase or refinance. Residential home loans fall into two main groups – conventional loans and government loans. Government loans are either insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). Conventional loans, on the other hand, are not insured or guaranteed by the U.S. government and therefore require a 20% down payment, mortgage insurance, a second mortgage, or a higher interest rate, to compensate for putting down less than 20%. Our conventional programs include:
PLEASE NOTE: Due to current market conditions and events in the real estate industry, we no longer offer adjustable rate mortgages (ARMs), interest-only, flex-pay, stated income, and no doc programs. With so many conventional loan options, the best advice we can give you is to get pre-approved as soon as possible and put us to work finding you the programs that best meet your needs. Get started now! To learn more about the home loan process, click here. If you're just surfing for information, but you've got questions, be sure to ask Chad to get the answers. Thank you for considering our home loan services! | |||||||||||
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